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Esper urges Senate passage of CLARITY Act amid national security concerns

Esper argued the bill would expand Treasury tools to close crypto loopholes that can be used to evade US financial controls, including those tied to North Korean actors such as the Lazarus Group.

Reported · Written up by our desk · Regulation

Former US Defense Secretary Mark Esper urged the Senate to pass the CLARITY Act, framing it as more than a digital asset policy measure, according to an op-ed published in the Financial Times and covered by Cointelegraph.

Esper said weak rules for digital assets create opportunities for North Korea and China to undermine US financial power, pointing to Beijing investment in state-directed payment systems as a way to sidestep American oversight and challenge the US dollar’s role.

He also argued the act would give US authorities better tools to cut off crypto-specific loopholes used by rogue actors, citing North Korean groups such as the Lazarus Group and their ability to evade US financial controls.

Cointelegraph reported that a Senate vote is expected on Sept. 15, after Senate Majority Leader John Thune filed cloture to bring the CLARITY Act to the Senate floor for consideration. Esper said the bill would extend the Treasury’s special-measures authority under section 311 of the USA Patriot Act.

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